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Chubb Arabia, AlAhli Takaful discontinue merger discussions

Chubb Arabia, AlAhli Takaful discontinue merger discussions
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ATC
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CHUBB
8240
0.93% 32.50 0.30

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company and AlAhli Takaful Company (ATC) announced they agreed to end and discontinue merger discussions.

The announcement has no material impact of the financial statements of the two insurers, according to a bourse filing on Wednesday.

On 19 February, the boards of the two companies started initial talks over a possible merger.

The bilateral discussions aimed to explore mutual interests for the companies’ shareholders.